SBI to buy Magnum Triple Plus assets
State Bank of India has decided to subscribe to the Magnum Triple Plus scheme which came up for redemption on May 19. The assets of the Magnum Triple Plus scheme would be transferred to a new scheme by the name of Magnum Growth Fund which would exclusively be subscribed by SBI.

UTI likely to do away with assured return for MIPs
Unit Trust of India is likely to do away with assured returns in monthly income plans. Instead, the Trust is contemplating assuring returns on a year-to-year basis, depending on the interest rate scenario.

RBI cautions Government on market borrowings
The Reserve Bank of India (RBI) has cautioned that there is a limit to the extent of market borrowings the central bank can support.

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